Rivian Automotive Inc announced its quarterly production totals today
2022.07.06 18:46
Rivian Automotive Inc (NASDAQ:RIVN) announced its quarterly production totals today, showing that it produced 4,401 vehicles at its manufacturing facility in Normal, Illinois, and delivered 4,467 vehicles during the same period.
These production numbers remain in line with company expectations, as Rivian believes that they are on track to meet their 25,000 annual production guidance previously reaffirmed in its 1Q shareholder letter.
According to Rivian’s 1Q shareholder letter, the company’s top priority for 2022 remains “ramping production in our Normal, Illinois production facility.” Manufacturing shops are demonstrating strong performance as weekly production rates continue to climb when not constrained by supply chain limitations.
One of Rivian’s long-term goals is to achieve more than 10% global market share. To achieve this goal, the company continues to accelerate production capacity. Over the medium term, Rivian plans to employ numerous lessons learned from their Normal, Illinois plant in the previously announced plant in Georgia.
